Aboki Naira to Dollar Black Market Exchange Rate Today, 21st June 2025

The black market exchange rate for the US Dollar (USD) to Nigerian Naira (NGN), commonly referred to as the “Aboki” rate, continues to reflect the ongoing challenges in Nigeria’s foreign exchange market.

As of today, Bureau De Change (BDC) operators in major cities like Lagos, Abuja, Kano, and Port Harcourt report that the dollar is being bought at approximately ₦1,587 and sold at ₦1,605 on the parallel market, according to sources monitoring the unregulated forex market.

These rates indicate marginal stability compared to yesterday’s figures, which stood at ₦1,594 (buy) and ₦1,605 (sell). The slight fluctuation highlights the persistent demand for dollars, driven by Nigeria’s import-dependent economy, international travel, educational expenses, and the limited foreign exchange supply in the official market, which is regulated by the Central Bank of Nigeria (CBN). The CBN’s official exchange rate, as of recent reports, hovers around ₦1,610 per dollar, showing a narrowing gap between the official and black market rates.

The parallel market, often referred to as the Aboki market, remains a critical avenue for Nigerians seeking quick access to dollars for various transactions, despite warnings from the Central Bank of Nigeria (CBN) about the risks associated with unregulated foreign exchange trading, including potential legal issues, scams, and counterfeit currency. Economic analysts attribute the Naira’s pressure to structural challenges such as low foreign reserves, fluctuating global oil prices, and Nigeria’s heavy reliance on imports.

Experts caution that without significant policy reforms to boost forex supply or reduce Nigeria’s import dependency, the Naira could face further depreciation. Some projections suggest the black market rate may approach ₦2,000 to $1 by late 2025 if current trends persist. Nigerians are advised to exercise caution when engaging in black market transactions and to verify rates through trusted sources like Aboki Forex, Nairatoday, or local BDC operators.

Disclaimer: Engaging in black market transactions is unregulated and carries significant risks. For official forex transactions, individuals are encouraged to approach licensed banks or financial institutions as advised by the CBN.